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Dec 27, 2012
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they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax incre
they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play...
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Dec 24, 2012
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the grand bargain, something to prevent taxes going up, and also lay the groundwork potentially for deficit reduction in the future. i think you will see president obama cut his vacation short, and continue to play a role in those negotiations. richard. >>> kristin, over the weekend, he attended the funeral for the late senator inouye, who he has called an inspiration to him. what did you see in that service? >> well, more than 20 members of congress attended, mostly democrats, majority leader harry reid spoke and praised senator inouye for his partisan spirit, reaching across the aisle. of course in an earlier memorial service, the president called the late senator his earlier inspiration, on a a lot of members of congress came together to pay their respects. >> thank you, kristin. >>> if congress and the president fail to reach a deal, the impact is as unlikely as immediate as the term "fiscal cliff" seems to imply. the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would en
the grand bargain, something to prevent taxes going up, and also lay the groundwork potentially for deficit reduction in the future. i think you will see president obama cut his vacation short, and continue to play a role in those negotiations. richard. >>> kristin, over the weekend, he attended the funeral for the late senator inouye, who he has called an inspiration to him. what did you see in that service? >> well, more than 20 members of congress attended, mostly democrats,...
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Dec 24, 2012
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doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand is entitlement cuts. medicare and social security. >> talk about the debt ceiling and where this is played in to this conversation. that is coming up in february or supposed to come up in february. john boehner made the offer to take it off the table for a year but i want to sho
doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social...
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Dec 23, 2012
12/12
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you were a member of the bowles-simpson deficit commission and voted for the final report. let's remind people. that proposed almost $3 trillion in spending cuts. president obama's last offer, the one that the republicans rejected, was less than $1 trillion in spending cuts. we checked. that would be less than 2% of the $44 trillion the government will spend over the next decade. again, is that the best democrats can do? 2% of all the spending over the next deca >> you know, this conversation means exactly what is wrong in washington. i mean, just listen to the conversation you just had. it is he said/she said, blame the other guy. and, look, i tried to be constructive here and lay out an actual plan to get us nearly $4 trillion, by taking the offers that are on the table. speaker boehner and the president were so close and then speaker boehner went off on plan b. i never understood why. had no prospect of succeeding. it did not succeed, even in his own caucus. but now -- >> you are not answering my question. >> yes. because i'll tell you, something, because we only have ni
you were a member of the bowles-simpson deficit commission and voted for the final report. let's remind people. that proposed almost $3 trillion in spending cuts. president obama's last offer, the one that the republicans rejected, was less than $1 trillion in spending cuts. we checked. that would be less than 2% of the $44 trillion the government will spend over the next decade. again, is that the best democrats can do? 2% of all the spending over the next deca >> you know, this...
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Dec 22, 2012
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became speaker, saying republicans would cut spending for every bill they passed that would add to the deficit. and then they had to exempt themselves from their own rule for the very first bill they introduced when the war on women thing really picked up pace and the republicans' incessant focus on abortion stuff started to hurt the party politically. you remember john boehner insisting over and over again that this anti-abortion stuff was a democratic conspiracy. republicans were not focused on war on women at all, jobs, jobs, jobs. the furthest thing was the anti-abortion legislation. they weren't even working on that. all the while he was making that case, his own republicans kept introducing more and more and more and more anti-abortion legislation. forget what john boehner says. he doesn't speak for us. since john boehner has been speaker, since early 2011, the house has had real trouble just doing basic run of the mill governing stuff. bills failing unexpectedly and needing to be pulled at the last minute and tried again. the republican leadership's own legislation failing to get enough
became speaker, saying republicans would cut spending for every bill they passed that would add to the deficit. and then they had to exempt themselves from their own rule for the very first bill they introduced when the war on women thing really picked up pace and the republicans' incessant focus on abortion stuff started to hurt the party politically. you remember john boehner insisting over and over again that this anti-abortion stuff was a democratic conspiracy. republicans were not focused...
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Dec 27, 2012
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medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again? >> i think it is a serious possibilities out like to make that they don't mix the debt ceiling in with the fiscal cliff. we have to get to next without a self-inflicted recession and take on the debt ceiling which a symptom of the national debt. if we can deal with the national debt, we can get a deal on the debt ceiling. but that is a lot of work. gerri: the war of words going on is not helping. harry reid saying it is republicans fault and somebody from boehner's office said harry reid has to talk less and legislate more. it is c
medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again?...
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Dec 30, 2012
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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Dec 26, 2012
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working with house speaker john boehner and trying to get a big deal that dealt with tax reform and deficit reduction. that fell apart and talks have largely been stalled this entire time. there was a lost pressure to get something done. we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal cliff. taxes will go up for the average american by about $2,000 and could put us back into a recession. >> which nobody wants to see. kristen welker in hawaii. the president is coming back, but they haven't gotten the 48 hour notice. they are very much out there in play. thank you very much for joining us. appreciate it. when the senate returns tomorrow morning, there will be a new emphasis on members taking a larger role in the fiscal cliff negotiations that based off the current offer may only have a smaller deal. a member of the budget committee and outspoken voice on the left side of the aisle.
working with house speaker john boehner and trying to get a big deal that dealt with tax reform and deficit reduction. that fell apart and talks have largely been stalled this entire time. there was a lost pressure to get something done. we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal...
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Dec 28, 2012
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it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> alan sem son impson is one o great public servants who will say or do whatever it takes to get people's attention on issues that really matter. skip and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight violence against women. >> make the cut. >> senator franken. >> >> who picked the list? >> we all did it "outfront." >>> up next, a rust belt bright spot in 2013. we're going to take you there, next. [ male announcer ] rocky had no idea why dawn was gone for so long... ...but he'd wait for her forever, for any reason, and would always be ther
it was to raise awareness about deficit and debt. >> what was awesome about that >> everything. >> roland is right. there was nothing awesome about that. as a matter of fact, roland is right, john. there's nothing right. nothing. >> john's problem is inside, he's a very old man, too. i mean, it proves old people should really -- really old people should never use social media. >> an old man who is in debt and deficits. >> he's going to do the hammer dance?...
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Dec 29, 2012
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unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks -- they do their jobs. they meet deadlines. they sit down and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership cannot do the same thing is mind-boggling to them. it needs to stop. i am modestly optimistic that an agreement can be achieved. nobody will get 100% of what they want. let us make sure that middle- class families and the american economy and the world economy are not adversely impacted because people cannot do their jobs. thank you very much, everybody. >> today
unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern...
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Dec 30, 2012
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it doesn't help make lowering future deficits any easier. so there are some things we need to change about the corporate tax code but in general i think we need to realize that if we set our country on the right path making the right investments in technology and education and really making sure we don't cut the necessary programs that can help us do that growth and so we have to make them a priority and perhaps deprioritize other spending areas we will be able to grow with the global economy . manufacturing has already come back to some degree i know that apple computers are actually moving a couple production facilities back to the united states from china. there's a real key is to make sure that we're continuing to invest in those types of investments and help us compete on a global scale. but we should also realize that it helps us when apple can produce their goods in china in a more cheap efficient manner than we could here because american consumers can get i pods and i phones on a much discounted basis from what it would be if we tri
it doesn't help make lowering future deficits any easier. so there are some things we need to change about the corporate tax code but in general i think we need to realize that if we set our country on the right path making the right investments in technology and education and really making sure we don't cut the necessary programs that can help us do that growth and so we have to make them a priority and perhaps deprioritize other spending areas we will be able to grow with the global economy ....
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Dec 29, 2012
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not even close fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in fur years when it comes to policy making, and the reason we are here is that the delay decisions for the past two years. i do think that something will happen because if it doesn't the consequences will be so severe in the next year again over 9 percent unemployment and a significant slowdown in an already slow economy. tom: but the blame game, who is going to g
not even close fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope...
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Dec 29, 2012
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tom: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gains and dividends, reinstate that and get rid of $109 billion in rporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years whe
tom: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gains and dividends, reinstate that and get rid of $109 billion in rporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class...
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Dec 30, 2012
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they want them to carry the burden of reducing the deficit and refuse to ask higher income individuals to pitch in to fully share responsibility. and that is exactly what is happening. it is important to know that republicans are now demanding that the wealthiest of the very wealthiest estates in this country get a sweetheart deal on estate taxes which would help 7,200 families in the country next year get an average tax break of $1.2 million. and they are holding up tax relief for everybody else in the country in order to get this demand met for the very wealthiest estates. this isn't even the top 1%. this is a fraction of 1%. while they want to give those folks a big break they want folks on social security to pay more. and so this is a major setback. it is interesting to hear mitch mcconnell talking about his good faith efforts. he knows that he just threw a monkey wrench into the negotiations y. think he is also doing it to protect speaker boehner and the republicans and the house because he doesn't want to send them a deal that he knows they are going to vote down. >> let's talk a
they want them to carry the burden of reducing the deficit and refuse to ask higher income individuals to pitch in to fully share responsibility. and that is exactly what is happening. it is important to know that republicans are now demanding that the wealthiest of the very wealthiest estates in this country get a sweetheart deal on estate taxes which would help 7,200 families in the country next year get an average tax break of $1.2 million. and they are holding up tax relief for everybody...
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Dec 23, 2012
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on middle-class americans, protects unemployed for 2 million americans and lays the groundwork for deficit reduction. that's an achievable goal. that can get done in ten days. once this legislation's agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers. >> jared bernstein, is this actually a setback for the president insofar as the embarrassed speaker was someone at least with whom he was dealing and now the president really doesn't have a negotiation partner? >> i don't think so. i do think in a way it's a setback for the nation because the president and speaker boehner were actually moving to a credible, plausible compromise at the very beginning of the week. and, of course, that's horribly off track now when john boehner decided to go to plan b. i think the leverage if anything is enhanced by this. the problem is i don't know why republicans would nibble at this idea of essentially passing the senate bill. that's what he was describing today sometime before the end of the year when they can wait a few days, go over the cliff and tax rate
on middle-class americans, protects unemployed for 2 million americans and lays the groundwork for deficit reduction. that's an achievable goal. that can get done in ten days. once this legislation's agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers. >> jared bernstein, is this actually a setback for the president insofar as the embarrassed speaker was someone at least with whom he was dealing and now the president really doesn't have a...
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Dec 26, 2012
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i think that would be a tough lift considering president obama offered $400,000 with $2 trillion in deficit reduction. >> from where you sit right now, i mean, you're so into the house gop, jake, i'm surprised you didn't end up in boehner's suitcase, we look like we're going over. >> it looks like that's the case and that's what gop aides are telling us today, it's very difficult and democrats are saying this too, it's difficult to see a way we avert the fiscal cliff at this point with how slow the senate operates, no plan right now, house is nowhere, and it's almost january. >> highway to the danger zone, jake sherman, politico, thank you so much for joining us, we appreciate it. >>> developing news on president george h.w. bush's health. this is "andrea mitchell reports" only on msnbc. we've all had those moments. when you lost the thing you can't believe you lost. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid
i think that would be a tough lift considering president obama offered $400,000 with $2 trillion in deficit reduction. >> from where you sit right now, i mean, you're so into the house gop, jake, i'm surprised you didn't end up in boehner's suitcase, we look like we're going over. >> it looks like that's the case and that's what gop aides are telling us today, it's very difficult and democrats are saying this too, it's difficult to see a way we avert the fiscal cliff at this point...
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Dec 29, 2012
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with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here. it is now. we're now at the point where in just four days every american's tax rates are scheduled to go up by law. every american's paycheck will get consider bring smaller. and that would be the wrong thing to do for our economy. it would be bad for middle class families and it would be bad for businesses that spend, depend on family spending. fortunately congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may stil
with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here....
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Dec 28, 2012
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. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> he's one of these great public servant who will say or do whatever it takes to get people's attention on issues that really matter. and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight wviolence against women. >> make the cut. >> who picked the list? >> we all did it. >> up next, a rust belt bright spot in 2013. we're going to take you there, next. and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome.
. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> he's one of these great public servant who will say or do whatever it takes to get people's attention on issues that really matter. and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight wviolence against women. >> make the cut. >> who picked the list? >> we all did it....
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Dec 22, 2012
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package that avoids tax hike on mid class, >> and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> bayne never >> holman: in his appearance earlier, boehner, flanked by majority leader eric cantor, sounded doubtful, but said he's willing to try. >> how we get there, god only knows. all i'm telling you is that eric and i, and our team here are committed to working with our colleagues on both sides of the aisle, both sides of the capitol, and the white house to address that. >> holman: still, as the capitol emptied for the holiday, the clock was ticking down to more than $500 billion in spending cuts and tax hikes kicking in. >> woodruff: and to the analysis of shields and gerson-- syndicated columnist mark shields and "washington post" columnist michael gerson. david brooks is off tonight. gentlemen, good to have you with us. >> good to be with you. >> woodruff: so mark, the fiscal cliff, it's still with us. it's still out there. the president made a last minute statement late this afternoon. where does everythi
package that avoids tax hike on mid class, >> and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> bayne never >> holman: in his appearance earlier, boehner, flanked by majority leader eric cantor, sounded doubtful, but said he's willing to try. >> how we get there, god only knows. all i'm telling you is that eric and i, and our team here are committed to working with our colleagues on...
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Dec 29, 2012
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explodes the deficit. hurts middle class employment. none has anything to do with the problem that we have which is number one in revenue we are spending too much and number two job creation. none of this helps either one of those things joe trippi and you know that is true. >> i don't know that is true and we won't agree about that. we will agree about one thing. going over the cliff will be far worse than what the president has put forward as a solution. >> sean: no, it is not. >> yes, it will. why don't we go over the cliff and get it over with. that makes sense to me, sean. >> sean: i say from the beginning he wanted to go over the cliff. he gets to blame republicans, tax everybody and gets defense cuts he never dreamed of through se see questions traition. we still have trillion dollars deficits. >> we got to be honest here. >> let's be honest both parties have been lying to the american people about that for years for decades sean. it is not a dam problem. >> sean: and no president has spent like this reckless spender. billy cunni
explodes the deficit. hurts middle class employment. none has anything to do with the problem that we have which is number one in revenue we are spending too much and number two job creation. none of this helps either one of those things joe trippi and you know that is true. >> i don't know that is true and we won't agree about that. we will agree about one thing. going over the cliff will be far worse than what the president has put forward as a solution. >> sean: no, it is not....
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Dec 24, 2012
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were close to getting some sort of a grand bargain that would have addressed tax reform as well as deficit reduction. those talks, of course, fell apart. house speaker john boehner tried to get an alternative plan through the house. that didn't work out. now the focus shifts to the senate. senate majority leader harry reid, minority leader mitch mcconnell will have to try to hammer out some sort of a compromise to avoid going over the cliff, but as you pointed out in your introduction, a lot of senators over the weekend expressed concern that, in fact, we will go over the fiscal cliff. of course, if is that happens, the economy could eventually slip back into recession. one interesting point, thomas, though, last time that members of congress worked between christmas and new year's was 1996. that was during the government shutdown. this is really a rare occurrence for members of congress to have to come back and work out legislation that they went able to get done before the christmas holiday. >> the president is supposed to stay there for how long? >> well, of course, the white house not
were close to getting some sort of a grand bargain that would have addressed tax reform as well as deficit reduction. those talks, of course, fell apart. house speaker john boehner tried to get an alternative plan through the house. that didn't work out. now the focus shifts to the senate. senate majority leader harry reid, minority leader mitch mcconnell will have to try to hammer out some sort of a compromise to avoid going over the cliff, but as you pointed out in your introduction, a lot of...
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so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and it's where we are. >> on appropriations could you have been any more vocal about it to provide us getting into this situation? >> welcome on was vocal about it. i don't know. when i got on the appropriations committee and became the chairman of the legislative branch all of the buildings, library of congress, congressional budget office, the cattle cars, office
so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right...
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we are looking at the deficit of this year and looking at deficit of that size as far as the eye can see and not how to put together a minor package as chuck was talking about. this is the larger deal. the problem you have, obviously, not much time so i think you're likely to see a two-step process here. dealing with the immediate dynamics to, in fact, set up a situation to deal with the larger situation. but ultimately, here, the other element to occur is this is a real negotiating process. i have to say i was disappointed in the president when he used this line, when the speaker said to him, hey, i'm giving you $800 billion. what do i zbhet the president's response was nothing. the white house has to come up with -- >> the response of the white house is times is different. 2011 is 2011. doesn't speaker boehner get less out of a smaller deal? >> no, no. i think he wants a larger deal and going back to august of 2011, they were -- they got very close to the large deal. richard, pushing back in terms of a little bit in terms, look, this is a negotiating process. one side can't say you
we are looking at the deficit of this year and looking at deficit of that size as far as the eye can see and not how to put together a minor package as chuck was talking about. this is the larger deal. the problem you have, obviously, not much time so i think you're likely to see a two-step process here. dealing with the immediate dynamics to, in fact, set up a situation to deal with the larger situation. but ultimately, here, the other element to occur is this is a real negotiating process. i...
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's the bear minimum that we should be able to get done. >> majority leader reid is ready to follow through on an up or down vote. reid said in a at the same time, "at president obama's request, i am readying a bill for a vote by monday that will prevent a tax hike on middle class families, making up to $250,000, and that will include the additional critical provisions outlined by president obama." president obama pointed out the danger of inaction. >> the economy is growing, but sustaining that trend is going to require elected officials to do their jobs. the housing market is recovering, but that could be impacted if folks are seeing smaller paychecks. the unemployment rate is the lowest it's been since 2008. but already, you're seeing businesses and consumers starting to hold back, because of the dysfunction that they see in washington. >> the president's stern statement echoe
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's the bear minimum that we should be able to get done. >> majority leader reid is ready to follow through on an up or down vote. reid said in a at the same time, "at president obama's request, i am readying a bill for a vote by monday that will prevent a tax hike on...
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and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the trillion deficit. but right now they're stymied. but i do think that by january 1st, they will have a deal in hand. i still think so. >> joy reid, have those conservative republicans, who wouldn't go along with speaker boehner's plan b last night actually strengthen president obama's hand? because as between the two men, speaker boehner and president obama, one clearly now has the upper hand in terms of leverage and negotiation. >> yeah, completely. and president obama went into this with all of the leverage. and now he's just gotten more. look, at the end of the day, th
and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the...
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you cannot cut your way out of our deficit problem. >> quick exit question. this is a yes or no. do we get a better deal if we go over the cliff? yes or no. >> i can't do yes or no. i'm sorry. >> we have little time. >> a cliff is terrible. if there is a terrible deal proposed, then i think it's better to go over the cliff. >> take it to the brink, obama. >> don't go over the cliff. no. no. >> absolute lie not. >> we have a table divided. >>> negotiations about policy ors personalities. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. >>> no vote tonight? >> nope. >> will there be a vote tomorrow? >> nope. >>> what happened mr. cantor? >> talk about the face of futility. that was house majority l
you cannot cut your way out of our deficit problem. >> quick exit question. this is a yes or no. do we get a better deal if we go over the cliff? yes or no. >> i can't do yes or no. i'm sorry. >> we have little time. >> a cliff is terrible. if there is a terrible deal proposed, then i think it's better to go over the cliff. >> take it to the brink, obama. >> don't go over the cliff. no. no. >> absolute lie not. >> we have a table divided....
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president obama's plan cuts the deficit, it does not. it restrict future increases in the deficit. it is in the $24 trillion debt in 2015 will only be $20 trillion. [talking over each other] stuart: address the question. [talking over each other] >> let me answer you. we have a fundamental disagreement whether in a situation like this when the economy is of whether the government needs to cut spending. i do not believe it does. you believe it does. we have a fundamental difference how to proceed forward. stuart: what we need more than anything else is to stimulate the private sector and you don't do that with more spending and we need to control long-term entitlement spending. we have to reform entitlement programs. that would fix things. stuart: i agree with you on a ladder but not the former. stuart: where's the president's reform program? >> that proposed -- absence something the democrats -- [talking over each other] >> you want to get rid of medicare and medicaid? stuart: that is always what you say. that is not true. why did you raise the eligibility age 65 to 67? raise the r
president obama's plan cuts the deficit, it does not. it restrict future increases in the deficit. it is in the $24 trillion debt in 2015 will only be $20 trillion. [talking over each other] stuart: address the question. [talking over each other] >> let me answer you. we have a fundamental disagreement whether in a situation like this when the economy is of whether the government needs to cut spending. i do not believe it does. you believe it does. we have a fundamental difference how to...
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we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw it coming, why did congress wait so long to do something about it? why do toys for tots and hasbro trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. >>> we are
we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw...
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and it immediately moved to deficit reduction and how to do it. and that was a very fundamental, important shift in the conversation. >> we have to go, but -- we have to go, but i heard that after the show, sam stein will be on twiner. you can be there, too. >> we can get together. >> we have another important item, though, which is the biggest hurdle arguably to president obama's second term agenda. that's something you're probably never going to hear about, literally. people think of the filibuster as a talk athon to stop action in the senate. but nowadays it has been attacked with a constant extreme of silent filibusters. up next, the talking filibuster ahead live. >>> time for the your business preer oes weeks. amber and mark started north carolina's based footsteps clothing which had a booming christmas themed pajama liven. not wanting to be jump a seasonal line of christmas, they added other opportunities. for more, watch "your business." sunday morning at 7:30 a.m. everyone loves surprise parties. yeah, so last week we had a surprise party
and it immediately moved to deficit reduction and how to do it. and that was a very fundamental, important shift in the conversation. >> we have to go, but -- we have to go, but i heard that after the show, sam stein will be on twiner. you can be there, too. >> we can get together. >> we have another important item, though, which is the biggest hurdle arguably to president obama's second term agenda. that's something you're probably never going to hear about, literally. people...
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too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and democrats sounds like we're still having an election that it never was over. i think that now -- now that we've had an election, and the american public has spoken, whatever they meant, it's time for the politicians to get together, come together as starbucks is saying, and get something done. nobody's going to get everything they want. but it's so much more important to solve the problem than for one side or the other to get what they want or blame the other. the atmosphere is just wrong. >> when you hear the argument for going over the cliff. when it's been told to me by both democrats and re
too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and...
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about 2% is a manageable deficit. the problem over the past three years is that we are at 60% and 24%. that gap is too big. at what level do you set the tax rate and what level do you have the spending rates? taxing a 24% will probably never happen. the question is, where is that middle ground do you end up? the bowles-simpson commission had 21%. members of congress have insisted that it does not go higher than 18%. that is the fight that will play out over the next couple of years. how much do we tax? how much are we paying for it? host: we want to remind our viewers and listeners of the consequences of going off of the fiscal cliff. in terms of the tax increases, it would mean another $221 billion. .he bush tax cuts expiring i payroll tax relief would expire and raise another $95 billion. i dish the provisions expire -- additional provisions expire for $65 million. the new affordable care act taxes would raise $18 billion. $65 billion in spending cuts for the budget control act, otherwise known as sequestration. $26
about 2% is a manageable deficit. the problem over the past three years is that we are at 60% and 24%. that gap is too big. at what level do you set the tax rate and what level do you have the spending rates? taxing a 24% will probably never happen. the question is, where is that middle ground do you end up? the bowles-simpson commission had 21%. members of congress have insisted that it does not go higher than 18%. that is the fight that will play out over the next couple of years. how much do...
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we still have a trillion-dollar deficit. we've got a lot of work to do. >> we do have a lot of work to do all i ask is we get the work down. stephen moore, always a pleasure to talk to you. we'll be talking a lot in 2013. >>> coming up, the great tax debate that stephen was just talking about. does raising tax on the wealthy really hurt the economy? i'll give you an answer after this. >>> the biggest issue in all the fiscal cliff wrangling is taxes. it's not the most important issue, but it's the central one. grover norquist told you his strong opposition to any tax increases of any sort. many republicans share his view. let's look at the economy. obviously across the board tax increases would hurt the economy. but what will the real economic reaction be to small tax increases on the wealthiest americans? now, annie lowrie of the "new york times" is still with us. i always have to make sure my viewers understand i am not advocating for tax increases on the rich. i want to explain what could happen. i want to bring in jean za
we still have a trillion-dollar deficit. we've got a lot of work to do. >> we do have a lot of work to do all i ask is we get the work down. stephen moore, always a pleasure to talk to you. we'll be talking a lot in 2013. >>> coming up, the great tax debate that stephen was just talking about. does raising tax on the wealthy really hurt the economy? i'll give you an answer after this. >>> the biggest issue in all the fiscal cliff wrangling is taxes. it's not the most...
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part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time. so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
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in the deficit. wait a second. i have an audio problem. a what? >> i'm sure brad will correct me when comes up. you will see efforts on immigration reform and gun control and the biggest trade deal in the last generation. the pivot to asia and other foreign policy. >> laura: going to do all this by eg executive decision becaue last time i checkle he still had a republican house. >> stop the extraordinary fiscal cliff negotiations and go back to regular order and pass a real budget and provide an alternative. >> laura: the democrats also might take that advice to pass a budget. >> stop the games and go back to committee process and let paul ryan do his job and have the big debate. >> let's go to you brad on this. i say this to my republican friends. though are all upset he will do executive fiat and rule making. elections have consequences the old cliche quicks in and it is clear that the president s aggressive and he will use every means at his dice posal and if republicans don't like it he will say
in the deficit. wait a second. i have an audio problem. a what? >> i'm sure brad will correct me when comes up. you will see efforts on immigration reform and gun control and the biggest trade deal in the last generation. the pivot to asia and other foreign policy. >> laura: going to do all this by eg executive decision becaue last time i checkle he still had a republican house. >> stop the extraordinary fiscal cliff negotiations and go back to regular order and pass a real...